Guideline Value for M.J.Muthusubramani Nagar

M.J.Muthusubramani Nagar guideline value

The current guideline value of M.J.Muthusubramani Nagar is Rs 627 per sq.ft, effective from 1 July 2024. This street is located in Nanthiambakkam village under the Thiruvottiyur SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of M.J.Muthusubramani Nagar has changed

The guideline value for M.J.Muthusubramani Nagar has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 570 per sq.ft in 2023, which increased by 10% to Rs 627 per sq.ft in 2024.

This change from 2023 to 2024 reflects a significant adjustment in the valuation of properties in the area. The current guideline value of Rs 627 per sq.ft is now established as the rate for transactions occurring after the revision date.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. M.J.Muthusubramani Nagar's 2024 figure is above this median.

• M .G. R Nagar: Rs 330 per sq.ft (2024)
• M.C. Nagar: Rs 385 per sq.ft (2024)
• Murugan Koil Street: Rs 330 per sq.ft (2024)
• Maruthar Nagar: Rs 330 per sq.ft (2024)
• MARIAMMAN NAGAR/ All EXTN: Rs 330 per sq.ft (2024)
• Nadhiya Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in M.J.Muthusubramani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 627 per sq.ft, the total guideline value amounts to Rs 6,27,000. The stamp duty at 7% would be Rs 43,890, and the registration fee at 2% would be Rs 12,540, bringing the total cost for these fees to Rs 56,430. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.J.Muthusubramani Nagar?

The M.J.Muthusubramani Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nanthiambakkam

The guideline value is an essential factor when registering property transactions in Nanthiambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buyers and sellers engage in property transactions, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for completing the sale legally. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of M.J.Muthusubramani Nagar?

The current guideline value of M.J.Muthusubramani Nagar is Rs 627 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 570 per sq.ft in 2023 to Rs 627 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for M.J.Muthusubramani Nagar?

M.J.Muthusubramani Nagar is classified as Residential Class II Type - II. This classification impacts the guideline value and the types of properties that can be developed in the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 56,430.

Where can I find the Sub Registrar Office for M.J.Muthusubramani Nagar?

The Thiruvottiyur Sub Registrar Office covers M.J.Muthusubramani Nagar and is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.